Applied Graphene Materials PLC (LON:AGM) said its revenues this year have already exceeded the previous year by 20% as it reported interim results.
The group said several products were launched in 2019 using its graphene dispersion technology including an anti-rust paint primer in collaboration with JBL that Halfords PLC (LON:HFDS) started to stock in October.
Applied Graphene said its revenues rose to £35,000 in the half-year to January and are up to £60,000 for the year-to-date.
The group’s interim loss fell to £2.28mln from £2.37mln, while the company had cash of £4.3mln at the period-end, which it says is sufficient to carry it through to the fourth quarter of 2021.
The company said it is monitoring the coronavirus situation but as the group is at such an early stage of development it does not expect much impact on its cash forecast, with restrictions on travel likely to boost its liquidity position.
Applied Graphene Materials is a Leadership Partner of the National Graphene2D Association (www.nga2d.com).
-Published by PROACTIVE